Bankruptcy filings continue to decline

Rochester-area bankruptcy filings last month continued a long-term decline.

Filings in the U.S. Courts’ Western District of New York Rochester division fell 15.1 percent in May, declining from 205 in the same month last year to 174. The nine-county Rochester division spans the counties of Monroe, Livingston, Ontario, Wayne, Seneca, Yates, Steuben, Schuyler and Chemung.

Chapter 7 filers seek to discharge debts by liquidating assets to create a fund to pay their creditors some or all of what they are owed. Chapter 13 filers write plans to pay part or all of their debts in up to 60 monthly installments.